The global bakery ingredient market value is expected to rise from US$ 20,795 million in 2023 to US$ 39,867 million by 2033. This estimated growth is expected to be driven by a healthy CAGR of 6.7% in the global bakery ingredient market over the next decade.
Sales for bakery ingredients are predicted to run parallel to the positive consumer trends, such as lactose, gluten, or other free-from goods. Going forward, firms are predicted to concentrate on higher-value products and channels like in-store bakeries, artisanal bakers, and food service. As a result, it creates high growth opportunities for bakery ingredients businesses.
Players in the market are focusing on providing nationwide delivery for the convenience of consumers. Additionally, the development of new bakery ingredients that promote better formulation of bakery goods is supplementing the market growth.
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Increasing consumer cognizance of healthy meal consumption for the overall well-being of the body is creating scope for a ‘healthier’ baking range. Key players are thus predicted to offer cleaner and healthier baking ingredients to profit from these consumer trends.
Another important market propeller is the increasing adoption of new baking ingredients by end users to bring new delicacies to life. Apart from this, new advances in technology that boost the shelf life of baked products are redefining the scope of bakery ingredients. Moreover, regulatory approvals have opened doors for bakery enzyme manufacturers to supply new-age products.
The increasing popularity of plant-based bakery products in some parts of the globe is propelling sales of bakery ingredients. Governments are further supporting the bakery ingredient industry by making significant investments in this sector.
Key Takeaways from the Bakery Ingredient Market Report:
- The United States is predicted to expand at a CAGR of 9.3% over the forecast period.
- Germany is expected to lead the Europe bakery ingredient market, showcasing an impressive CAGR of 9.4% through 2033.
- Japan has been estimated to register a growth rate of 8% through 2033.
- Key stakeholders and investors are predicted to invest in the budding market for bakery ingredients in Australia. The country is expanding at a CAGR of 14.2% through 2033.
- China has been assessed to grow at a 3% CAGR over the estimated period.
- Baking mixes and concentrates are predicted to account for a share of 17% in 2023.
- Foodservice is projected to acquire market share of 28.4% in 2023.
“The inclusive nature of the bakery ingredient industry is creating a conducive environment for chefs and bakery enthusiasts who continuously innovate their dishes in line with consumer trends. Presently, demand for lactose, gluten, or other free-from-food products is gaining traction. Key players can tap into this opportunity, along with focusing on higher-value channels, including in-store bakeries, artisanal bakers, and food service,” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Developments Taking Place in the Bakery Ingredient Market
- In October 2023, Kluman & Balter celebrates 100 years of baking innovation in the industry.
- In February 2023, Puratos US, a baking ingredient supplier expanded its operations to the West Coast with two significant investments. The new manufacturing line offers a full line of sweet and bakery goods improvers and mixes.
- In August 2023, Moyu, which is a superfood-driven baking and breakfast company, is predicted to introduce shipping services pan United States.
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Key Companies Profiled in the Bakery Ingredient Market
- Cargill Inc.
- DuPont De Nemours and Company
- Archer Daniel Midland
- Ingredion Inc.
- Tate & Lyle PLC
- DSM N.V.
- Associated British Foods
- Corbion N.V.
- Novozymes N.V.
- Puratos Group N.V.
- Lallemand Inc.
- BDF Ingredients
- Caldic B.V.
- Jiangsu BoliBioproducts Co., Ltd.
- AB Enzymes
- Others
Bakery Ingredient Market by Category
By Form:
- Dry
- Liquid
By Ingredient Type:
- Fiber
- Emulsifiers
- Enzymes
- Starches
- Oils, Fats, and Shortenings
- Baking Powder and Mixes
- Preservatives
- Colors and Flavors
- Leavening Agents
By Application:
- Foodservice Industry
- Bread
- Cookies and Biscuits
- Rolls and Pies
- Cakes and Pastries
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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